The Kerry Group's base milk price for March will be 30.36c/l excluding VAT (32c/l including VAT), it announced on Tuesday.

This equates to a cut of 2c/l on the base milk price it paid for February supplies.

It paid a base milk price of 32.25c/l excluding VAT (34c/l including VAT) for February milk.

However, farmers will receive an additional payment for all milk supplied over the last three months.

“In line with our milk contract commitment, we are paying an additional 1.5c/l on all milk supplied from 1 January 2018 to the end of March, excluding milk supplied under fixed milk price contracts,” a spokesman for Kerry Group told the Irish Farmers Journal.

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